167 Summer Street
Property Description
Investment opportunity! Fully occupied four-unit in a convenient Auburn location, featuring a strong, long-term rental history. All apartments are occupied by established tenants with great payment histories and a desire to stay long term. The property currently generates $5,450 per month and $65,400 in annual gross rental income. Units 1 and 4 are below market rent due to long-term tenancies, while Unit 3 is also slightly below market, creating additional rental income opportunity. Each unit has its own electric meter and hot-water tank, with all hot-water tanks recently replaced. A coin-op washer and dryer serve the majority of the building, while Unit 4 has private washer/dryer hookups. Two separate driveways and parking areas provide ample dedicated off-street parking. The attached barn/garage provides substantial additional storage, workshop space, or potential for future renovation into additional living space, subject to town approval. 34 Oak Street, Augusta and 167 Summer Street, Auburn may also be purchased together as a package, with favorable package pricing available. Inquire for details.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $495,000 |
| No. of Units: | 4 |
| Year Built: | 1920 |
| Lot Size: | 3,266.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $123,750 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 5 |
ID: 3yd-MREISME-1682968
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